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Name:Score:Marketing: An lntroduction, lfe (Armstrong)Ghapter 1 Marketing: Creating and Capturing Customer Value1) _ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating andexchanging value with others.A) Value reengineeringB) Human resource managementC) FinancingD) MarketingE) Root cause analysis2) The first step in the marketing process is value4) .--.-- are human needs as shaped by individual personality and culture. )A) 5) When backed by buying polver, wants become6) Abel now has the buying power to purchase the computer that he wanted for the last six months. Abel's want has now become a(n) -.A) needB) necessityC) demandD) exigencyE) desire7) _refers to the mistake of paying more aftention to the speciflc products a company offers than to the benefits and experiences produced bythese products.8) The art and science of choosing target markets and building profitable relationships with them is called9) Selecting particular segments of a population of customers to serve is called10) The BakeWay Bite is a popular cookie sandwich maketed by the Posco Division of Home Foods. lt is famous for its white cream-filled Foods created a iifferent version of these biscuits for consumers in Germany. To appeal to German consumers, Home Food created dark chocolatefilling for the same cookie sandwiches. This is an example -.center. Homeof A) bulk breakingB) cost leadershipC) diversificationI By:(Mid-TennExam 1: Cahpter 1-9)